The Magazine for Asian Investors
The Southeast Asia Digital Economy Report 2021 states that the digital market in Thailand will reach $30 billion by the end of 2021 with a growth rate of 51% compared to last year.
That report highlights that Thailand is the second largest market for the digital economy in Southeast Asia. By 2022, the value of Thailand’s digital economy is forecast to reach $57 billion and an average growth rate of 17% per year.
The main factor supporting the rapid growth of the digital market in Thailand is, in part, the expanding “e-commerce”. Compared to the previous year, the Thai e-commerce sector grew by 68%.
In addition, the number of consumers and entrepreneurs using digital platforms in ASEAN is growing rapidly. Together with this comes the growth of e-commerce businesses, food delivery, and digital financial services. By the end of the year, gross merchandise value (GMV) in Southeast Asia is expected to reach US$178 billion as a result.